XRP/USDT 4H Chart Analysis

XRP/USDT 4H Chart Analysis
Key Observations:
Symmetrical Triangle Formation

The price action is forming a symmetrical triangle pattern, indicating a potential breakout.

The triangle’s apex suggests a significant move in the coming days or weeks.

Key Support & Resistance Levels

Support: Around $2.1292 - $2.1680

Resistance Zones:

Immediate resistance at $2.1777 - $2.4

Stronger supply area around $2.6 - $2.8

If the price breaks below $2.12, further downside towards $1.40 is possible.

Supply & Demand Zones

A supply zone is marked above $2.4, meaning selling pressure may increase near this level.

A strong demand zone is present near $1.40, acting as major support in case of a breakdown.

Indicators & Market Structure

BOS (Break of Structure) and ChOCH (Change of Character) indicate previous bullish and bearish shifts.

EMA Cross (50 & 200): If a golden cross (bullish crossover) happens, upside potential increases.

Rational Quadratic Kernel (RQK): Used for trend prediction, confirming whether buyers or sellers are dominant.

Liquidity & Sessions Impact

Labels for New York, London, and Hong Kong sessions suggest liquidity traps and potential reversals in those zones.

High volume areas indicate strong institutional activity.

Potential Scenarios:
Bullish Breakout:

If price breaks above $2.4, it could rally towards $2.6 - $3.0.

A breakout above $3.2 would confirm a strong uptrend.

Bearish Breakdown:

A drop below $2.12 could push XRP to $1.80, with a worst-case target of $1.40.

Conclusion:
Watch for a breakout or breakdown from the symmetrical triangle.

Monitor volume and key session impacts (New York, London).

Support Levels: $2.12 and $1.40

Resistance Levels: $2.4, $2.6, and $3.2